Market Chatter: iEdge S-Reit Index Gains 6.7% in August, Reverses H1 Decline

MT Newswires
2024-09-09

The iEdge S-Reit Index gained 6.7% in August, adding to July's 5.5% increase, marking a 12.6% total return for the first two months of H2 2024 and reversing H1's 11.4% decline, The Business Times reported Sunday.

Driven by anticipated Federal Reserve rate cuts, August saw net institutional inflows exceed SG$90 million. Keppel Pacific Oak US Reit (SGX:CMOU) and Manulife US Reit (SGX:BTOU) led with returns of 26.9% and 19.3%, respectively.

Frasers Logistics & Commercial Trust (SGX:BUOU) reported a 25.1% rise in rental reversions and a 95% occupancy rate, while Cromwell European Reit (SGX:CWBU) posted a 2.3% increase in net property income (NPI) with a 93.6% occupancy rate.

Daiwa House Logistics Trust (SGX:DHLU) saw an 8.2% decline in NPI in SGD terms but expanded its portfolio with new properties.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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